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Vendor finance is ideal for someone trying to sell a property because it helps them deal with and ease the stress of mortgage payments. This can help..
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The most common comment clients make when enquiring about vendor finance is that they have spoken to their regular solicitor and they have said this type of transaction is illegal. This comment generally stems from a lack of knowledge and understanding of vendor finance and the fact that these types of transactions are not commonplace in Queensland. However, these types of transactions are in fact legal, and here at Aylward Game Solicitors we have been successfully drafting and producing vendor finance contracts for Buyers and Sellers for more than 20 years.
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A buyer may need a loan to purchase the house. There are different kinds of loans, like bank loans. But these loans require payment proof or a guarantor. It is not possible for people with a low pay rate. So, when a seller arranges money for the buyer, it is called vendor finance.
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A buyer may need a loan to purchase the house. There are different kinds of loans, like bank loans. But these loans require payment proof or a guarantor. It is not possible for people with a low pay rate. So, when a seller arranges money for the buyer, it is called vendor finance.
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It is advised to take expert advice before asking for vendor finance. As there are some risks in these kinds of loans. So, before signing any agreement, ask the experts. Aylward Game is one of the old Vendor Finance advising company. They can assist you in your property purchase.